REG - Empire Metals Ltd - Drilling Commences at Eclipse Gold Project

Empire MetalsAnnouncement

22/10/2020 07:00

RNS Number : 8452C
  
Empire Metals Limited
  
22 October 2020
  
 

To view the announcement with the illustrative maps and diagrams please use the following link: 
http://www.rns-pdf.londonstockexchange.com/rns/8452C_1-2020-10-21.pdf
 
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
 
22 October 2020
Empire Metals Limited ('Empire' or the 'Company')
Drilling Commences at Eclipse Gold Project
 
Empire Metals Limited, the AIM-quoted resource exploration and development company, is pleased to announce the commencement of reverse circulation ('RC') drilling at the Eclipse Gold Project, located 55km north-east of Kalgoorlie, Western Australia ('Eclipse' or the 'Project').  
 
Overview
·    Commencement of 2,300m drill programme designed to:
o infill and develop a better understanding of the resources to the immediate north and south of the Eclipse shaft - previous drill results include 7m @ 13.07 g/t Au from 34 metres, 12m @ 5.13 g/t Au from 39 metres, 8m @ 3.11 g/t Au from 66 metres and 6m @ 3.92 g/t Au from 87 metres
o test potential extensions to the mineralisation at depth at Eclipse; and
o test the mineralisation target at the Houdini project, 1.2km north-west of Eclipse (Figure 1). 
·    Samples will be regularly shipped to an assay laboratory in Kalgoorlie
·    Subject to drilling results (and a decision by Empire to exercise the option to acquire a 75% interest in Eclipse, further details of which are set out in the Company's announcement of 12 August 2020) a subsequent phase of drilling will be designed to further infill the resources around the Eclipse shaft, which historically produced 954 tonnes @ 24.6 g/t Au for 754.25 oz Au, to develop a resource and a potential open pit target.
 
Mike Struthers, CEO, said: "After a slight delay to our drill programme we're pleased to get this key element of the field programme at Eclipse moving. It will be very interesting to confirm the continuity of the mineralisation at Eclipse, especially in the thicker vein areas, and also to test the same vein structures at depth below the old workings.  Based on our interpretation of the aeromagnetics, the Houdini target has a very similar geological setting to Eclipse so we hope to have some interesting intersections there also. These are exciting times for the Company and I look forwards to providing more information to our shareholders in due course."
 
Image 1: RC Drill Rig at Eclipse Project - see PDF
 
 
Figure 1 - Aeromagnetic Survey,Controlling NE-SW Faults, and the Locations of Eclipse and Houdini - see PDF
 
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
 
**ENDS**
For further information please visit www.empiremetals.co.uk  or contact:
 




Mike Struthers


Empire Metals Ltd


Company


Tel: 020 7907 9327




Ewan Leggat


S. P. Angel Corporate Finance LLP


Nomad & Broker


Tel: 020 3470 0470




Soltan Tagiev


S. P. Angel Corporate Finance LLP


Nomad & Broker


Tel: 020 3470 0470




Damon Heath


Shard Capital Partners LLP


Joint Broker


Tel: 020 7186 9950




Susie Geliher


St Brides Partners Ltd                     


PR                                   


Tel: 020 7236 1177




Beth Melluish  


St Brides Partners Ltd                        


PR 


Tel: 020 7236 1177




                                                  
About Empire Metals Limited 
Empire Metals' primary focus is on the Eclipse Gold Project in Western Australia which produced 954 tonnes @ 24.6 g/t Au for 754.25 oz Au from the Eclipse shaft which operated up to 1910.  In addition to the known mineralisation at and surrounding the Eclipse old workings, recent geophysics and geochemistry work has highlighted further potential mineralisation at two additional targets north-west of Eclipse, the Houdini and Easy prospects.
 
The Company also has a 50% joint venture in Georgia which covers an area of over 860 sq km and has a 30-year mining licence.  The joint venture covers a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which is due to advance to Feasibility Study.
 
The Board continues to evaluate opportunities through which to realise the value of its wider portfolio and reviews further assets which meet the Company's investment criteria.
 

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